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Fly News Breaks for October 21, 2016
BURBY, COH
Oct 21, 2016 | 12:52 EDT
Jefferies analyst Randal Konik puts the near-term probability of a Coach (COH) merger with Burberry (BURBY) as "relatively low." The potential merger does make "some strategic sense," Konik tells investors in a research note. At the reported Burberry price of $20B, the analyst assumes Coach will finance 70% of the deal with stock and issue $2.8B in new debt. Konik has a Buy rating on Coach with a $53 price target.
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